lakeland house? (Memphis, Arlington: apartment, cheap house, neighborhoods)

[June1102]

My hubby and I are both graduate students in Memphis, he just finished his and got a job here. I have about other 2 or 3 years to finish mine. So we have to stay in Memphis for at least 2 years. Now our baby is 5 months and we really like to move out of apartment, so many baby staff at homes, we are thinking about buy a house here since the house price is down everywhere.
My question is which area should we consider since we probably won't be here for long time, well we might stay here for a long run but not sure. we are looking some house on mud island, west station, which are all said to be good resale place, but the house price in mud island is really high in terms of /sqft and crowd. west station has so many old house that I don't like either. How about lakeland? I like the house there but not sure about the resale market. Any suggestion will be appreciated!

[Pearlbob]

I don't know what west station is. You mean the White Station area?

I was recently shocked at how cheap houses on the island are now. I remember years ago, you couldn't find even the smallest house for under $200k. Now, I have seen a lot of 2 story, 3br/2ba for a little over $200k. Now, I personally think the neighborhoods there are cheap looking, cookie cutter, tiny yards...not my style. However, I think the resale value would be a lot higher if you ended up staying here a while. If you bought a place and did a few upgrades, I think you could make some money. Maybe not in 2 years with this market, but after a while. It is, though, a cute place with lots of families. I think it's a nice place to live...I personally don't like new houses though.

I don't think anywhere, in Memphis or suburbs, is going to have a great resale value in only 2 years. If you stay longer, I think Lakeland (as long as it's not unincorporated) is a good choice. Hard to predict resale right now. Best bet is to find something you like and will enjoy, and go in with the understanding that you will not make any money off of it.

[June1102]

Thanks for the reply Pearl. Actually we never thought about making money on such short term investment. We will be very happy if we can keep the house value and have it sold easily, that's all our concern.
It's white station. typo.

[Pearlbob]

White Station is a fine area. Older homes, big trees, people who have lived there a long time. Of course, you never know about an exact location, but overall the White Station area has been around a long time and is a desired area for people wanting to live in the city.

If your child is young, you don't have to worry about school systems yet. White Station is still an okay school area anyway. (well, okay for the city schools)

I'm with you, as long as you come out even, that's all y ou can expect right now. I think Lakeland, White Station, or the island are good choices. Totally different from one another though, so weigh your options. I'd like in the White Station area, but never the island or Lakeland. So make sure to weigh the pros and cons.

[striker217]

June1102,

I would recommend the White Station area....certain parts. Alot depends on your size/price home you are looking for. I live in the White Station area/Colonial Acres. I grew up in Colonial Acres, moved to Cordova, than back to Colonial Acres. A great area to live in.

Regards,

striker

[ColliervilleMom]

we just drove through Lakeland over the weekend, what a lovely place! Nice big lake, it's more hilly than most of memphis, seemed like a wonderful place to be.

[TheGhetto]

Originally Posted by considering-amovetomephis

we just drove through Lakeland over the weekend, what a lovely place! Nice big lake, it's more hilly than most of memphis, seemed like a wonderful place to be.

yeah, lakleand is nice, but its kinda too close to Cordova. I over heard some kids calling Cordova....the Dirty 'Dova. hehehe...i laughed and walked off

[lakelandisgreat]

Lakeland is a great place to live. I have lived in Lakeland for several years and really enjoy it. You don't have to care about schools yet but the schools are really good. Arlington is also a nice place and they have more town activities than Lakeland. They also have a city tax which Lakeland does not. I don't know about the other places.

[Pearlbob]

I think Dirty Dova is goofy slang for referring to the fact that the suburbs are in fact pretty upscale compared to most of Memphis.